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Chicago City Wire

Tuesday, April 16, 2024

Former substitute teacher Brody paid in $30K to teachers' pension fund, could collect $470K in retirement

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Former substitute teacher Leslie Brody, who retired in March 2019, saved $30,329 toward a pension over 14 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Brody would collect as much as $470,459, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Brody received $9,888 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Brody will have already received $30,564 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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